What kind of Tax is GST?
Direct Tax
Indirect Tax
Depends on the type of goods and services
None of the above
Correct Answer :
B. Indirect Tax
Related Questions
First announcement for introduction of GST arose in
2004
2005
2006
2007
GST is a _____ based tax.
Consumption/Destination
Production
Manufacture
Sales
Supply of goods or services which constitutes the predominant element of a composite supply is called
Common Supply
Principal Supply
Continuous Supply
Mixed Supply
Article _____ states that no tax shall be levied or collected except by authority of law.
100
250
265
300
_____ is a simple and easy scheme under GST which can be opted by the small taxpayers whose aggregate turnover of the preceding year is less than Rs.1.5 Crore which helps them to get rid of tedious GST formalities and pay GST at a fixed rate of turnover.
Payment Scheme
Turnover Scheme
Aggregate Scheme
Composition Scheme
_____ Supply means a supply made by a taxable person to a recipient which comprises of two or more taxable supplies of goods or services or both, or any combination thereof that are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply.
Exempt
Continuous
Composite
Inter-State Supply
Under GST, which is the point of collection of taxes?
Manufacture
Production
Destination of Supply
Origin of Sales
Which among the following is not the type of tax which is directly imposed on the taxpayer and he/she pays the same directly to the government?
Income Tax
Corporate Tax
Wealth Tax
Goods and Service Tax
Under which type of tax is the taxation amount collected shared between the centre and the states?
CGST
SGST
UTGST
IGST
Related persons include all but not one of the following. Mark the correct answer.
Directors of each others business
Legally recognised partners
Employer and Employee
Any third person holding 10% shares of both the companies
RK(Delhi) supplies goods to XY in Mumbai. Determine the kind of supply and the applicable tax.
Inter-State Supply, IGST
Intra-State Supply, CGST and SGST
Intra-State Supply, IGST
Inter-State Supply, CGST AND SGST
What kind of Tax is GST?
Direct Tax
Indirect Tax
Depends on the type of goods and services
None of the above
RK (Delhi) supplies goods to AB in Delhi. Determine the kind of supply and the applicable tax.
Inter-State Supply, IGST
Intra-State Supply, CGST and SGST
Intra-State Supply, IGST
Inter-State Supply, CGST AND SGST
_____ is a constitutional body created by the President to make recommendations or give any suggestions to the union and state government on issues related to goods and service tax.
GST Court
GST Apex Body
GST Board of Directors
GST Council
6 ._____ supply means supply of goods or services within a single state or union-territory.
Zero-Rated
Continuous
Intra-State Supply
Inter-State Supply
_____ ssupply means supply of goods or services or both on which no tax is payable and such supplies include export of goods and supply of goods to special economic zones.
Zero-Rated
Continuous
Intra-State Supply
Inter-State Supply
Uniform rate of taxes are applicable in the case of _____.
Central Sales Tax
VAT
Excise Duty
GST
The imposition of direct taxes is on_____. while in the case of indirect taxes it is on __.
Gifts, Income
Income, Goods or Services
Goods or Services, Income
Income, Gifts
Goods and services tax mean any tax on supply of goods or services or both except taxes on the supply of the _____...
Articles
Commodities
Any material in tangible form
Alcoholic Liquor for human consumption
A supply of a package consisting of canned foods, sweets, chocolates, cakes, dry fruits, aerated drinks and fruit juices when supplied for a single price is
Exempt
Mixed
Intra-State Supply
Inter-State Supply
In the case of reverse charge, tax is paid to the government by
Supplier
Buyer
Manufacturer
None
Which of the following tax rate is not applicable under the GST?
5
12
18
25
Goods are packed and transported with insurance, packing materials, transport and insurance. This is a case of
Exempt
Continuous
Composite
Inter-State Supply
_____ in relation to supply of goods or services or both include any payment made or agreed to be made whether in money or otherwise (in kind) in respect of or in response to supply of goods or services or both.
Consideration
Monetary payment
Manufacture
Sales
_____ Supply means two or more individual supplies of goods or services or any combination thereof made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply.
Exempt
Mixed
Intra-State Supply
Inter-State Supply
_____ supply means supply of goods or services which is provided or agreed to be provided on continuous or recurring basis.
Exempt
Continuous
Intra-State Supply
Inter-State Supply
_____ supply means supply of goods or services between two different states or unionterritories.
Zero-Rated
Continuous
Intra-State Supply
Inter-State Supply
Related persons include all but not one of the following. Mark the correct answer.
Directors of each others business
Legally recognised partners
Employer and Employee
Both are friends with each other however they do not control each others actions
Who will notify the rate of tax to be levied under CGST?
Central Government suo moto
State Government suo moto
GST Council suo moto
Central Government as per the recommendations of the GST Council
Schedule I of GST includes deemed supplies that is supply without consideration. Such supplies include all of the following except one. Mark the correct answer: -
Permanent transfer or disposal of assets
Supply between distinct or related persons
Supply between principal and agent and Supply involving Import of Services
Supply involving export of goods and services